UPI Lite Upgrade: RBI Announces These 2 New Features...

These updates are anticipated to make UPI Lite even more user-friendly and accessible, aligning with the Reserve Bank’s vision for a seamless digital payment ecosystem.
RBI has announced two new featuers for UPI Lite users
RBI has announced two new featuers for UPI Lite usersREPRESENTATIVE
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The Reserve Bank of India (RBI) announced two major changes that will affect UPI Lite users. The changes — an increase in transaction and wallet limits and an auto top-up feature — come into force from November 1 (Friday).

UPI Lite's single transaction limit will increase from Rs 500 to Rs 1,000, with users now allowed to keep a balance of up to Rs 5,000 in their UPI Lite wallet, up from Rs 2,000 previously. Moreover, as a part of the new changes, the daily spending limit will be capped at Rs 4,000.

Additionally, the new auto top-up feature will facilitate users by not requiring manual recharge every time the balance runs low. When a user's UPI Lite balance falls below a set minimum, the auto top-up feature will refill the wallet from a linked bank account, allowing uninterrupted payments. While users will be able to set the recharge amount, it will be limited to five top-ups a day.

UPI Lite, a service launched by the National Payments Corporation of India (NPCI), aims to simplify small transactions by eliminating the need for a UPI PIN, thereby improving convenience for everyday purchases. To further enhance user experience, the NPCI introduced an auto top-up feature on August 27, 2024.

These updates are anticipated to make UPI Lite even more user-friendly and accessible, aligning with the Reserve Bank’s vision for a seamless digital payment ecosystem.

RBI has announced two new featuers for UPI Lite users
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